Improvements In Cyprus

Although Russia declined to offer Cyprus bailout aid before Cyprus obtains the bailout from the Eurogroup and IMF, progress has been made in Cyprus' fundraising of the 5.8 billion euro portion of the bailout, which was one of the major terms of the bailout. Just today, the Cyprus parliament approved three key bills that aim to fundraise the 5.8 billion euros, including " including a key one on restructuring the country's ailing banks, which lost billions on bad Greek debt; a second on restricting financial transactions in times of crisis; and one that sets up a 'solidarity fund' into which investments and contributions will flow." Also, UK experts are being flown to Cyprus to advise it on its banking system; hopefully they don't pull an Osborne and implement austerity measures that resulted in Moody's (and most likely Fitch) downgrading UK's AAA rating.